Garema Place is a significant land holding of 1,503sqm over two blocks which has been development approved for a mixed-used development featuring a luxury hotel, premium office space, and extensive dining offerings in what is one of the best locations in Canberra’s CBD.

The current approval provides for 203 hotel rooms averaging 36sqm across nine levels offering a total developable GFA of 20,125sqm with flexibility over internal design, market positioning, brand, and operating structure. The mixed-use development is to feature multiple dining offerings, roof-top pool, event spaces, and 3,071sqm of premium office space.

The asset is prominently located next to surrounding major retail, businesses, and government departments that play home to visiting travellers and delegates that drive demand in Australia’s capital city. Canberra’s tourism attractions boosted by recent infrastructure spending and a bustling events schedule have seen the Canberra trading market go from strength-to-strength as one of the strongest and most consistently performing markets in Australia post-COVID.

“Very rarely is a hotel development opportunity with this scale and certainty offered for sale in the heart of Canberra CBD. With RevPAR already beating 2019 figures in August, the Canberra market is performing at its strongest and is forecasted to only improve,” said Mark Durran, JLL Hotels & Hospitality Group.

“An incoming investor stands to benefit from this burgeoning demand in Australia’s most secure economy. The mixed-use development features perfect positioning in terms of the approval, the location, and interest from operators,” added Nik Sasic, JLL Hotels & Hospitality Group.

Expressions of Interest for Garema Place, Canberra close on Wednesday 9th November 2022 at 2pm (AEDT).

For more information contact the agents via the form below.